News from INVL Technology managed companies: Novian’s revenue increased 27.6% in the first half of 2023 to EUR 18.5 million
13 Septiembre 2023 - 1:35AM
News from INVL Technology managed companies: Novian’s revenue
increased 27.6% in the first half of 2023 to EUR 18.5 million
The Novian software and IT infrastructure services group had
aggregated revenue of EUR 18.5 million in the first half of 2023,
an increase of 27.6% over the same period last year. The group’s
EBITDA for the 6-month period was EUR 0.2 million and
correspondingly grew 25.9%. There was an operating loss of EUR 0.3
million, the same level as in January-June last year.
In the first half of 2023, the Novian group’s
companies earned EUR 12.3 million of their revenue, or 67%, in
Lithuania; the amount is 11.8% more than in the first half of 2022.
Revenue earned abroad was EUR 6.2 million, or 77.3% more than in
the year-ago period. The group has had activities in a total of 32
countries this year.
“We expanded Novian's presence in the first half
of this year – after adding a Rwandan company, the group now has
offices not only in European countries but also in Africa. The
period was also notable for the growth of revenue outside
Lithuania, largely driven by the completion of a high-performance
platform deployment project in countries of Southern Africa,”
Novian CEO Evaldas Rėkus said. He said that in the future the group
will get new opportunities not only through Novian’s geographical
expansion, but also by starting projects in defence and other
areas.
Looking at strategic operations, in the
reporting period Novian’s software development companies focused on
Lithuanian public sector digitalization projects in the areas of
taxes and accounting. Projects funded by the European Defence Fund
where Elsis PRO is part of the consortiums will also be launched.
The SESIOP project aims to contribute to improving the
interoperability of military air control systems, while the ODIN'S
EYE II project will develop an early warning system for ballistic
missile threats.
Growth in the field of high performance and
cloud computing platforms was heavily impacted by a project
completed in Southern Africa early this year. It will enable faster
and more accurate weather forecasting and better preparations for
the challenges of climate change. During the project, high
performance computing (HPC) clusters for climate change and weather
forecasting were deployed in Botswana while data collection and
early warning platforms were deployed in the other countries of the
Southern African Development Community (SADC). “We are actively
showcasing the potential of HPC for climate monitoring on a global
scale,” said Gytis Umantas, the CEO of Novian Technologies.
In the digitization area, structural changes
were made. There were management changes at Zissor and Andmevara
SRL in mid-year, and in July, Novian Technologies combined Novian’s
digitization services businesses after acquiring the shares of
Norway-based Zissor in an internal transaction. With the aim of
improving efficiency, digitization processes and service features
were also reviewed.
Among recurring services, IT maintenance
projects continued to dominate. IT infrastructure service projects
also stood out in the period. Examples are the modern application
development platform completed this year at the Bank of Lithuania
and the start of work to implement a modern application management
system at the Lithuanian Centre of Registers.
The Novian group consists of Novian
Technologies, Novian Systems and Elsis PRO in Lithuania, Novian
Eesti of Estonia, Andmevara of Moldova, Zissor of Norway, and
Norway Registers Development Rwanda of Rwanda. The Novian group is
owned by INVL Technology, a company that invests in IT
businesses.
The person authorized to provide additional information:INVL
Technology Managing PartnerKazimieras
TonkūnasE-mail k.tonkunas@invltechnology.lt
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